The following is a summary of the provisions of the TD CASH plan. The Certificate of Insurance that you will receive once you have enrolled contains the complete terms and conditions of the coverage under the Plan.
Coverage is provided by TD Life Insurance Company (the “Insurer”) under Policy TDL022. Coverage is not available in Quebec or New Brunswick.
Your first month of coverage is at no cost to you
You have 30 days from the date when the original Certificate is issued in which to review the benefits provided and decide whether or not the coverage suits Your needs. If you decide to discontinue Your coverage, simply telephone the Insurer’s head office, and providing no claim has been made, any premium You may have paid will be promptly refunded and Your Certificate will be cancelled as of the Issue Date. Additionally, after the free look period, you may cancel any time and any unearned premium will be returned.
Definitions of the terms we have used
Accident is a bodily injury that occurs solely as a direct result of a violent, sudden and unexpected action from an outside source to an Insured Person while that Insured Person is insured under Your Certificate.
Admission means being admitted into a Hospital.
Day means a period of twenty-four (24) consecutive hours.
Dependent Child(ren) means any natural child, stepchild, or legally adopted child of Yours residing in Canada, who:
- is over the age of 30 days and under 21 years of age, unmarried and receives full support and maintenance from You; or
- is 21 years of age or older but less than 25 years of age, unmarried, and receives full support and maintenance from You for the reason of full-time attendance at an accredited institute, college or university in Canada; or
- receives full support or maintenance from You by reason of mental or physical infirmity.
Notwithstanding the above limitations, this definition shall also include a child of Your Spouse who is in Your care, custody and control and living in a parent-child relationship with You. Any Dependent Child(ren) born while Your coverage under the Policy is in force will automatically be covered on the 30th day after the date of birth, or on discharge from Hospital after birth, whichever is later, provided Dependent Child coverage has been applied for and is shown in the Coverage Schedule.
Effective Date means the date your insurance takes effect. It will be shown on your Coverage Schedule in your Certificate of insurance when we send it to you.
Hospital means any institution in Canada which meets all of the following conditions:
- is licensed as a full care Hospital by the licensing body having jurisdiction where the Hospital is located; and
- operates primarily for the care and treatment of sick and injured persons; and
- has a staff of one or more Physicians available at all times; and
- provides 24-hour nursing services by a registered nurse; and
- provides organized facilities for diagnosis and major surgical procedures; and
- maintains x-ray equipment and operating room facilities.
It does not include a nursing home, extended care, rehabilitation or convalescent care facility, home for the aged or chronically ill, home for the mentally ill, rest home or a place that provides for the care and treatment of alcoholism or drug abuse, other than incidentally.
Hospitalization and Hospitalized means confinement in a Hospital as an Inpatient.
Inpatient refers to a person who must stay 24 hours as an admitted patient in a Hospital for medical treatment.
Insured Person means You, and if indicated in the Coverage Schedule, Your Spouse and/or Your Dependent Child(ren).
Physician means qualified doctor, licensed and practicing medicine in Canada.
Policy refers to Group Policy TDL022 between TD Life and The Toronto-Dominion Bank to provide the Hospital Indemnity Benefit.
Pre-Existing Condition is defined as a medical condition, illness or injury for which medical advice (including taking prescribed medication), consultation or treatment was received during the 12 months prior to that Insured Person’s effective date.
- the person to whom You are lawfully married; or
- Your designated partner who has lived with You for at least (2) years and continues to live with You and is publicly represented as Your husband or wife.
To be insured, You and Your Spouse must be between the ages of 18 and 60 at the effective date. Age limitations for Dependent Children are included in the definition of Dependent Children above.
Premiums will be collected as shown in the Coverage Schedule that will be included in your Certificate of insurance when we send it to you. Your premium amount will change if you change your coverage amount. We may increase premium rates on 30 days’ written notice, but the premiums for people insured under a Certificate of insurance will only change if we increase premiums for everyone insured under the Policy with the same coverage amount.
When benefits are payable
Hospital Indemnity Benefit
Subject to the limitations and exclusions under Your Certificate, the Insured Person's Daily Hospital Benefit shall be paid to You when an Insured Person is Hospitalized for an Accident or illness for at least two consecutive Days and is under the care of a Physician and the period of initial Hospitalization:
- is necessary for the treatment of an illness or an injury caused by an Accident; and
- begins while this insurance is in force on that Insured Person.
If the Insured Person meets these requirements, TD Life will pay the benefit amount for each Day of Hospitalization, beginning on the third Day of Hospitalization.
The Recovery Benefit provides a lump sum payment equal to one Day of Daily Hospital Benefit. Subject to the limitations and exclusions under Your Certificate, the Recovery Benefit is payable upon release from Hospital if the Insured Person has been confined as an Inpatient in Hospital for at least two consecutive Days, and has met the other requirements for payment of a Hospital Indemnity Benefit as described above. Only one benefit is payable per Hospitalization, which means that if a recurrence is treated as a continuation of an initial Hospitalization, as described below under Recurrent Period of Hospitalization, then the Recovery Benefit is only payable in connection with the initial discharge from Hospital.
Recurrent period of hospitalization
Recurrent Hospitalization due to the same or related cause, within one hundred and eighty (180) days of one another, shall be considered a continuation of the initial period of Hospitalization. In this case, subject to the limitations and exclusions under Your Certificate, Daily Hospital Benefits will be payable while the Insured Person meets the requirements described above under Hospital Indemnity Benefit, except that benefits will be payable from the first Day of the recurrence of Hospitalization, rather than starting on the third day.
Hospitalizations occurring more than 180 days apart shall be considered separate periods of Hospitalization. The Recovery Benefit will not be paid with respect to recurrences of Hospitalization that are treated as continuations of the initial period of Hospitalization.
When benefits will not be paid (limitations and exclusions)
No benefits shall be paid if:
- an Insured Person's Hospitalization is related to an Accident that occurred before the Effective Date;
- an Insured Person is Hospitalized in relation to a Pre-Existing Condition and:
- if the Hospitalization occurs before the first anniversary of that Insured Person’s Effective Date; or
- if the Hospitalization occurs on or after the first anniversary and before the second anniversary of that Insured Person’s Effective Date, unless for twelve consecutive months starting after his or her Effective Date, the Insured Person has not received any medical treatment, consultation or advice in relation to the Pre-Existing Condition, including any changes in medication, and the Insured Person’s Pre-Existing Condition has not worsened in that twelve-month period;
- an Insured Person's Hospitalization is caused by or results from events transpiring during the commission by the Insured Person, or an attempted commission, of a criminal offence (including driving a motor vehicle while legally intoxicated);
- an Insured Person's Hospitalization is a result of attempted suicide, or intentionally self-inflicted injury whether sane or insane;
- an Insured Person's Hospitalization is a result of war, declared or undeclared, or any act thereof;
- an Insured Person's Hospitalization is a result of participation in professional sports, any speed contest, SCUBA diving unless the Insured Person holds a basic SCUBA designation from a certified school, parachuting, hang gliding, bungee jumping, or skydiving;
- an Insured Person's Hospitalization is a result of air travel as a pilot or crew member of any conveyance used for aerial navigation;
- an Insured Person's Hospitalization is caused directly or indirectly by the use of illegal or illicit drugs or substances, or misuse or abuse of alcohol or medication obtained with or without a prescription;
- the Insured Person's Hospitalization began prior to 30 days after their birth;
- the Insured Person's Hospitalization is a result of an accident that occurred more than 365 days before the Hospitalization;
- the Insured Person's Hospitalization is due to elective surgery, including cosmetic surgery.
Coverage maximums and reductions
Each Insured Person is eligible for a maximum benefit of up to 365 days per cause of Hospitalization, regardless of the number of times the Insured Person is Hospitalized in connection with that cause, including recurrences. The maximum amount that may be paid under the Daily Hospital Benefit for an Insured Person is calculated by multiplying the Daily Hospital Benefit amount for that Insured Person by 365 days.
Only one Recovery Benefit will be payable per Hospitalization. Any Recurrent Hospitalization due to the same or related cause, within one hundred and eighty (180) days of another Hospitalization, shall be considered a continuation of the initial period of Hospitalization for this purpose.
The amount of Daily Hospital Benefit coverage on an Insured Person will reduce by 50% at age 65, and will end when that Insured Person turns 75.
When coverage ends
All coverages under the Certificate will end on the date when any of the following occurs:
- You die;
- We receive a written request from You to cancel Your insurance;
- the Premium payment is in arrears for 30 days;
- 30 days after We give You written notice of the termination of the Policy;
- You turn 75 years old.
In addition, all coverage for Your Spouse, if insured, will also end on the date when any of the following occurs:
- Your Spouse dies;
- Your Spouse turns 75 years old;
- Your Spouse no longer qualifies under the definition of Spouse;
- We receive a written request from You to cancel insurance on Your Spouse.
In addition, all coverage for Your Dependent Child(ren), if insured, will also end on the date when any of the following occurs:
- Your Dependent Child(ren) dies;
- Your Dependent Child(ren) no longer qualifies under the definition of Dependent Child(ren);
- We receive a written request from You to cancel insurance on Your Dependent Child(ren).
Once you have enrolled and received your Certificate of Insurance, please read it carefully to fully understand the benefits available to you and the terms and conditions under which those benefits will be paid.
A no-risk way to get the accident and illness coverage you need